Cheap Money Experiments in Past And Present Times Reprinted With Slight Revisi
Cheap Money Experiments in Past And Present Times Reprinted With Slight Revisi
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In our eReader you can find the full English version of the book. Read Cheap Money Experiments in Past And Present Times Reprinted With Slight Revisi Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Cheap Money Experiments in Past And Present Times Reprinted With Slight Revisi
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Any person owning landed property in the province could go to the bank and secure a loan for half its value, which was to be fixed by the bank's appraisers. The bank gave him a mortgage-bond, called a cedula, which was to run for twenty-four years, at from six to eight per cent, interest, two per cent, amortization, and one per cent, commission. The interest was payable quarterly, and there were coupons attached for the twenty-four years. The cedulas were issued in alphabetical series, begin- n...ing with A and running to P. They were bought and sold on the Bolsa or Stock-exchange, and from THE AKGENTINE CHEAP-MONEY PARADISE 49 their first issue became an important element in speculation. The first issue of series A was between $18, 000, 000 and $14, 000, 000, the Ai'gentine dollar being about ninety-six cents of our money, being based upon the unit of the French monetary sys- tem. These remained at par for only a short time after issue. They were quickly followed by others, until series A closed with a total issue of $27, 394, - 000.
What to read after Cheap Money Experiments in Past And Present Times Reprinted With Slight Revisi?
You can find similar books in the "Read Also" column, or choose other free books by Joseph Bucklin Bishop to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Any person owning landed property in the province could go to the bank and secure a loan for half its value, which was to be fixed by the bank's appraisers. The bank gave him a mortgage-bond, called a cedula, which was to run for twenty-four years, at from six to eight per cent, interest, two per cent, amortization, and one per cent, commission. The interest was payable quarterly, and there were coupons attached for the twenty-four years. The cedulas were issued in alphabetical series, begin- n...ing with A and running to P. They were bought and sold on the Bolsa or Stock-exchange, and from THE AKGENTINE CHEAP-MONEY PARADISE 49 their first issue became an important element in speculation. The first issue of series A was between $18, 000, 000 and $14, 000, 000, the Ai'gentine dollar being about ninety-six cents of our money, being based upon the unit of the French monetary sys- tem. These remained at par for only a short time after issue. They were quickly followed by others, until series A closed with a total issue of $27, 394, - 000.
What to read after Cheap Money Experiments in Past And Present Times Reprinted With Slight Revisi?
You can find similar books in the "Read Also" column, or choose other free books by Joseph Bucklin Bishop to read onlineMoreLess
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